We’ve written before about the puzzle of Orchard Supply Hardware Preferred(OSHSP). This preferred issue was spun off from Sears Holdings(SHLD) together with Orchard Supply Common(OSH). While we’re still not sure how to value them, thanks to Laurie Frederiksen, COO of bivio.com for pointing out some tricky tax treatment for their distribution. It seems that unlike most spinoffs which… Read More »
We’ve previously discussed Ralcorp’s(RAH) plans to spin off Post Cereal(POST) here, here and when it was announced in July. The company issued a press release yesterday, reiterating that it is on track for completion at the end of January, and announcing the Boards of Directors for each company. Brief biographies as provided by Ralcorp: The following are brief biographies of… Read More »
One of the more interesting (and attractive) attributes of spinoffs is that they don’t typically get a lot of attention from the media or ‘The Street’. Much rather talk about a birth (IPO) or a marriage (M&A) than a breakup. That has changed a bit over the past year though as several high profile companies announced spinoffs, which… Read More »
Despite calls by some investors to spin off its Frito-Lay snack food division, Pepsi(PEP) appears ready to continue to remain a single entity. The company has languished during CEO Indra Nooyi’s tenure, rising just 1% in 5 years. The WSJ reports that “A breakup of the company appears unlikely, although the board has looked at the idea.” Instead,… Read More »
Confirming reports from Geekwire, AllThingsD learned from an Expedia (EXPE) spokesperson that Company President Scott Durchslag has resigned after 14 months on the job. The company said that CEO Dana Khosrowshahi would assume the additional role of President. Expedia CFO Michael Adler recently left after the completion of the TripAdvisor (TRIP) spinoff. Durchslag had previously held senior positions… Read More »
General Growth Properties (GGP) is an unusual story, delivering profits to pre-bankruptcy shareholders and featuring several investing luminaries among its shareholders. It has now completed its second spinoff in a little more than a year, as Rouse Properties (RSE) begins trading regular way tomorrow. Rouse completes trading on a when-issued basis at $11.30. Rouse, which we previously wrote… Read More »
Comverse Technology(CMVT) announced plans today to spin off its wholly-owned subsidiary, Comverse. Confused? Comverse Technology is a holding company with 3 major assets: Comverse, a supplier of software and systems to telecommunications companies, majority ownership of Verint(VRNT), and majority ownership of Starhome, a private company. Comverse declared its intention to unwind its holding company structure and distributing Comverse… Read More »
WPX Energy(WPX) which was spun off from Williams(WMB) at the beginning of the month, has announced its Board Of Directors. The company which has 1.6 million acres under lease, appointed 9 Directors to join Chairman William G. Lowrie. The press release provides the following biographical data for the Directors: Kimberly S. Bowers is the executive… Read More »
Spin is not a word you typically want associated with aircraft, but if a report by Reuters is correct, investors in Textron(TXT) may soon own shares in a Bell helicopter or Cessna aircraft spinoff. Citing “sources familiar with the situation”, Reuters says that the company is conducting a strategic review which may result in spinning off pieces of… Read More »
It looks like Pfizer (PFE) is moving ahead with its plans to divest its animal health unit. The latest sign is a recent restructuring of its Indian subsidiary’s animal health unit which was folded into the company’s larger animal health division. According to a Pfizer spokeswoman, ‘“in order for any potential transaction with animal health, in some countries… Read More »
Sara Lee(SLE) continues to prepare for the second quarter spin off of their coffee and tea business, leaving behind their North American meats division, a business they are still calling, improbably, MeatCo. While it doesn’t yet have a real name, it does now have a CEO, as the company announced Friday that Sean Connolly, President of Campbell North… Read More »
In a short clip, without giving much detail, Austin Smith mentions he likes the prospects of Orchard Supply(OSH), recently spun off of Sears Holdings(SHLD). Smith likes management, feels that they’re not competing with Home Depot(HD) and Lowes(LOW) and that Sears may go bankrupt. Like many Fool articles, there’s not a lot of content here, and it seems largely… Read More »
It’s been a pretty bad first week for Orchard Supply(OSH). Since beginning trading on Tuesday following its spin off from Sears Holdings(SHLD) at $25 with a quick rise to $60, the stock has moved almost straight down to its current price of $15.62. Yesterday, the company released some preliminary numbers which show some encouraging trends, but still couldn’t… Read More »
As reported at CapitalVue: December 30 — C C Land Holdings (1224.HK) said it is considering listing its packaging business on the Hong Kong Exchanges and Clearing (HKEx) and has sent its proposal to the HKEx, reports yicai.com, citing a company filing. The company’s packaging unit mainly produces and sells packaging goods and display goods. The listing decision… Read More »
We were pleased (and a bit embarrassed) to recently discover the Guggenheim Spin-Off ETF(CSD). The index, which tracks the Beacon Spin-Off Index, owns 40 stocks, with more than half of its assets in 10 stocks. The index is rebalanced yearly, though rebalances may be postponed if there are insufficient assets. Companies eligible for inclusion are companies that were… Read More »